Audit Automation Software Market – Introduction
- Various audits need to be done by a company/organization due to the growing complexity of businesses
- Non-compliance with audit regulations can result in problems for the business organization
- Audit automation software are increasingly being used by organizations to meet the growing demand for timely and accurate auditing as per mandates laid down by regulatory authorities
- Audit automation software forms an important part of a business entity as it reduces the risk of non-compliance
- Audit automation software helps the organization to manage all audit related functions and data, and processes everything in a single, comprehensive framework
Are you a start-up willing to make it big in the business? Grab an exclusive PDF Brochure of this report
Key Drivers of the Audit Automation Software Market Dynamics
Increasing requirement for effective risk management and compliance with government regulations expected to fuel the demand for audit automation software
- One of the most important factors driving the demand for audit automation software is the growing complexity in the business environment
- The complex nature of business and functions necessitates compliance with government regulations on a timely basis.
- Audit automation software ensures various types of audit (internal audit, operational audit, IT audit, supplier audit, and quality audit) are done on time.
- Audit automation software helps in managing the whole audit lifecycle, from audit planning, scheduling, to creating audit standards and checklists. This systematic process results in easing the audit process and improves process efficiency.
- Demand for this software is expected to grow at a high pace during the forecast period due to these advantages offered by audit automation software
High initial investment by small enterprises expected to hinder the growth of the audit automation software market
- Even though audit automation software streamlines the audit process, it also requires high capital investment in the initial phase for installation and training pertaining to software usage.
- This factor restrains the demand for audit automation software from small enterprises, which in turn can hinder the growth of the audit automation software market.
North America to dominate the global audit automation software market
- North America is expected to account for notable share of the audit automation software market during the forecast period. Stringent regulations laid down by government authorities in North American countries is one of the major factors attributed to this dominance.
- Another factor resulting in continuous increase in demand for audit automation software is the presence of large number of enterprises in countries of North America
- The market in the U.S. is projected to expand at a considerable pace during the forecast period, which in turn is anticipated to drive the audit automation software market in the region.
Audit automation software market in Asia Pacific to expand significantly
- The audit automation software market is expected to expand at the highest rate in the Asia Pacific region
- This is due to continuous growth in businesses in India and China. As a result, demand for audit automation software is expected to grow at a considerable rate during the forecast period in the region.
Looking for Regional Analysis or Competitive Landscape , ask for a customized report
Audit Automation Software Market – Competitive Landscape
The top five players are expected to account for 20% to 25% share of the global audit automation software market. A few of the key players operating in the global audit automation software market include:
- ACL Services Ltd.
- Lockpath Inc.
- MasterControl, Inc.
- MetricStream Inc.
- Pilgrim Quality Solution
- Sparta Systems, Inc.
- Wolters Kluwer (UK) Limited
- Workiva Inc.
Global Audit Automation Software Market – Segmentation
Global Audit Automation Software Market, by Component
- Software
- Services
Global Audit Automation Software Market, by Deployment Model
- On-cloud
- On-premise
Global Audit Automation Software Market, by Region
- North America
- Europe
- Middle East & Africa (MEA)
- Asia Pacific
- South America
The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.
The study is a source of reliable data on:
- Market segments and sub-segments
- Market trends and dynamics
- Supply and demand
- Market size
- Current trends/opportunities/challenges
- Competitive landscape
- Technological breakthroughs
- Value chain and stakeholder analysis
The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.
About Us
Transparency Market Research is a next-generation market intelligence provider, offering fact-based solutions to business leaders, consultants, and strategy professionals.
Our reports are single-point solutions for businesses to grow, evolve, and mature. Our real-time data collection methods along with ability to track more than one million high growth niche products are aligned with your aims. The detailed and proprietary statistical models used by our analysts offer insights for making right decision in the shortest span of time. For organizations that require specific but comprehensive information, we offer customized solutions through adhocreports. These requests are delivered with the perfect combination of right sense of fact-oriented problem solving methodologies and leveraging existing data repositories.
TMR believes that unison of solutions for clients-specific problems with right methodology of research is the key tohelp enterprises reach right decision.”
Contact
Transparency Market Research
State Tower,
90 State Street,
Suite 700,
Albany NY – 12207
United States
USA – Canada Toll Free: 866-552-3453
Email: [email protected]
Website: https://www.transparencymarketresearch.com
